Wheat futures saw small midday gains on Apr. 16, with Chicago Soft Red Winter (SRW) contracts up by fractions to two cents, Kansas City Hard Red Winter (HRW) up one to three cents, and Minneapolis spring wheat showing fractional increases.
The movement in wheat prices comes as the next seven days are expected to remain dry from western Kansas through the Texas panhandle, according to the NOAA seven-day Quantitative Precipitation Forecast. Meanwhile, SRW areas could receive one to three inches of rain.
Internationally, French soft wheat exports outside the European Union are estimated at 7.1 million metric tons by FranceAgriMer, while intra-EU shipments are projected at 7.7 million metric tons—an increase of 0.13 million from the previous week. French ending stocks have dropped by 0.8 million metric tons to an estimated total of 3.31 million.
In recent trading updates: May CBOT Wheat was priced at $5.93¾ per bushel (up 1¾ cents), July CBOT Wheat at $6.01¾ (up half a cent), May KCBT Wheat at $6.25½ (up 2¾ cents), July KCBT Wheat at $6.37¾ (up 1½ cents), May MIAX Wheat at $6.38¼ (up a quarter cent), and July MIAX Wheat at $6.52¼ (also up a quarter cent).
Legacy Farmers Cooperative is among those serving agricultural producers in northwest Ohio across ten counties according to its official website. The cooperative maintains grain centers, agronomy sites, fuel stations and retail locations throughout this region according to its official website.
Structured as a member-owned organization with more than 150 employees across various divisions according to its official website, Legacy Farmers Cooperative supports community initiatives including youth agricultural education programs such as FFA and scholarships according to its official website. The cooperative focuses on exceeding customer expectations by delivering value and financial returns for members according to its official website.
Austin Schroeder said he did not hold any positions in securities mentioned in this article on the date of publication.
